Topic: Even more proof that market wants segwit (Read 2002 times)

Another one:

https://www.reddit.com/r/Bitcoin/comments/65hzc7/jihan_just_declared_war_on_litecoin_segwit_over/

Segwit on LTC was at 82%, ready to start signaling in the next period, price was recovering, on it's way to surpass the peak of the other day. And what happens when people wake up to the anti-segwit news? Price crash! How unexpected.

But franky1 will stay in denial. It's all a coincidence.

if its for proof of concept, you can do it with 0.01 LTC. 

Most of the volume will realize segwit doesn't do anything that special, doesn't make litecoin special, and the bubble will pop.

every bitcoin project and developer that's currently stymied by the bitcoin stalemate will move over to have a play with litecoin, even if it's only for pure proof of concept.

I ain't got a clue what the price will do, but the only way litecoin's usage is going is up. it can't be much quieter than it is now anyway.

Segwit going up = LTC going up. Like clockwork. As always, segwit is valued positively in the market and it shows, even when BTC is on a strong uptrend.
Nobody cares about other alts so they don't matter, LTC is the real deal, if it gets activated it will get an ATH, but I doubt 75% will get maintained for 2 weeks.

Ignore franky1, he is paid to twist facts.

and on same day litecoin tanked



and on same day Vert tanked 20% ltc rose 20%

its just tennis...

and all your doing is looking at th ball (the latest coin that rises) and ignoring the one without the ball (the latest coin that drops) and then scream it rose because segwit.
but when it drops. you will scream the other coin rises "because segwit good."

are you next going to offer a daily report. find which coin rose and scream "its segwit"

temporary price drama is meaningless. especially in the stupidly twisted context you use.

lol exactly.

Speculators always trade off "news", doesn't matter what the news is. And that is what we are seeing.

I actually hope Litecoin does adopt Segwit, because afterwards it will prove no-one uses it and no-one wants it.

So BW decides to wake up with the right foot today and starts signaling for segwit:

https://twitter.com/SatoshiLite/status/852034914249654272

Reaction of the markets?



Yet, delusional schizo franky1 will remain in denial about the fact that the market reacts positively whenever segwit goes up.

Now the question is, what pool will chink us this time by pulling out and shorting the market?
Let's keep track of Wang's twitter. Those guys are psychos and will not doubt to fuck around with their power to constantly short and make millions.

I think everyone got excited because they thought @Gmaxwell could slay Bitmain. But now the reality is starting to hit people. Bitcoin is NEVER going to get any more significant changes to its protocol.

Looks to me that BTC is topping out again and another ride down awaits.

Should have traded BTC's top for LTC's recent bottom. Trade it like a seesaw.

Ah Chinamen are manipulating the price of LTC, shaking out the weak hands and day traders so they can buy some more LTC cheap.

I also read that LTC1BTC was flashing 700 GH/s on their website. It is a lot of BS lies to manipulate the price.

UASF would fuck the coin because nobody wants to trust a democracy with their money.

Just be patient, the Chinamen want higher prices, they just want to extract the most they can on the way up.

I actually love what these miners are doing. Because they will create huge demand for my altcoin which doesn't use PoW. Many pissed off users/investors are going to looking for something better that miners can't fuck with. The day traders love the volatility.


Yup.

---

That is my altcoin project, BitNet.


The databases on the Internet are centralized, e.g. Facebook's DB, Reddit's DB, Bitcointalk's DB, Stackexchange's DB.

All of them must die. Will be replaced with open blockchain.

We are giving Jihan and Roger Ver the power they think they have. We have seen with Mike Hearn and Gavin too. Every time they farted,

everyone was up in arms. Now Mike Hearn is a thing of the past and nobody is following his tweets or his crazy statements on Social media.

Some people are just addicted to drama and attention and Jihan seems to be one of them. Ignore his rants and comments and he too will fade

away, like Mike Hearn did. 

Don't try to apply logic with franky1, he will twist all arguments that don't meet his agenda.

Even further proof that segwit = price up. Vertcoin got 300% price increase due segwit news:

https://bitcointalksearch.org/topic/vertcoin-vtcann-segwit-activated-asic-resistant-decentralized-gpu-mining-1828453

Anyone that still doesn't see segwit = positively valued for the market needs a beating.

I am kind of questioning that. Why is it that they are working on making bitcoin fall down while the its price still went up.
Is this some kind of a strategy because they are really the one who benefits from it?
Imagine they have really a large amount of bitcoin and just want to create some news that will make people doubt it for the price to go down so they can buy again. What if they really are the panic sellers and cannot buy back because of the expensive price and no profit from it.
If I am a known man I would do that in case I sold at a wrong time. This aint new anymore. Just a strategy and they will say after all of this. "Oops! I didnt mean that!"
But with the increase perhaps the magic aint working.

I suppose someone is making a lot of money off of these segwit hopers. If the sheep react so predictably, the wolf can run rings around them.

Doesn't change the fact that that positive segwit news/rumors make the price go up and negative segwit news/rumors make the price go down.

When Charlie Lee confirmed that Wang would not stop signaling segwit, price went back again.

Now if Jihan confirms that he will drop that amount of hash rate against segwit, the price will go down too.

Rumors have to contain information and depending on what the rumor says market reacts.

TL;DR:  segwit news/rumors make the price go up and negative segwit news/rumors make the price go down. This is a fact.

I agree with you, but the move still makes sense.


The fundamental problem is access to manufacturing, and design. Even a CPU only PoW has this problem, there's a more serious monopoly there with high performance integer specific (which I think hash functions uniformly handle, anyone?) computation units, and they're called Intel. A whole panoply of problems stems from that particular monopoly too.

But, we can level the playing field that bit extra by changing to CPU only mining. ASICs are even more cartelised than Intel's monopoly, simply because Intel chips don't have the huge price gouging markups that Antminer and others can afford to charge. Mining with ASICs has been highly uncompetitive for independents right from the start.

And we're buying time by changing PoW. Time to test ideas like randomly changing PoW hashing (as you mention), or even requiring a series of 10 different hashing algos per block header attempt (Meni Rosenfeld's idea).

And the endgame is 3D printing of silicon (or other substrate...) ASIC processors. Even then, the company that sells the silicon and copper can begin to get in on the action in the same way nVidia or Intel could. But it still levels the playing field that bit more. If we could use a nitrogen or iron based processor substrate for 3D printing, someone might still find a way to monoplised or cartelise the most abundant elements on earth.

But let's get there one step at a time. The current miners have demonstarted all too well that power has corrupted them as much as anyone else, so we must work towards the most free market possible. I feel for the honest miners, but, if they're honest with themselves as well as the Bitcoin network they contribute to, they're getting ripped off and losing in this situation too. Mining rigs are only one part of the miners infrastructure, small miners will win out in the end.

Every now and then, we will see some "posts", "news" or "rumors" about the scaling debate and about the parties involved in it. These senseless articles just don't provide any proof of what it's saying and just wanted the community to panic and sell their BTC. It is better to do your own study about these matter. Just get over this thing as soon as possible. What's happening right now is not healthy for the BTC community.

litecoin pump and dump..
who cares.

its temporary price drama.
plus

it was caused by twitter..
not asics or china or asicboost.

asics and asicboost has done nothing in the last 2 years
bu, classic, xt, and a dozen other implementations has dont nothing in the last 2 years

reddit and twitter "rumours" have been the attack, twisted as a victim card being waved at a situation that has never played out

At this point, I wouldn't mind a switch the segwit if it would help the entire debate to come to a close and make sure that the corrupt devs that are producing BU (which is already a mess when it comes to the code structure it has, just look at the preliminary tests with nodes) don't get any more power within the blockchain.

Segwit isn't perfect, but it is one of the best things we can use which doesn't wreck the entire system yet still provides a decent compromise.

OP is referring to recent Litecoin pump and dump I think.